By Steve Moore | Friday 3 February 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Having stated in September that it “continues to focus on M&A activity and pursue higher value-added business” and then in November that it “has decided to cease all ongoing M&A discussions and focus on maximising cashflow from the existing business”, Zamano (ZMNO) has now updated that “the board believes that it is necessary for the company to take the decision to formally wind down the existing business lines in order to protect the cash position on the balance sheet”!?!
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